Canaan Inc. American Depositary Shares (CAN) — Stock Correlations & Overview
Over the past year, CAN has moved most closely with SATO, OWNB, STCE. Explore the stocks most correlated and inversely correlated with CAN below, along with its price, financials, and company profile.
Stocks correlated with CAN
Correlation of daily returns. Higher positive values move with CAN; negative values move opposite it. Informational only, not investment advice.
Most correlated with CAN
| Symbol | Company | Correlation |
|---|---|---|
| SATO | Invesco Alerian Galaxy Crypto Economy ETFINVESTMENT ADVICE | 0.68 |
| OWNB | Bitwise Bitcoin Standard Corporations ETF | 0.67 |
| STCE | Schwab Crypto Thematic Natural Language Processing ETF | 0.66 |
| BCOR | Grayscale Bitcoin Adopters ETFFINANCE SERVICES | 0.65 |
| FDIG | Fidelity Crypto Industry and Digital Payments ETF | 0.64 |
Most inversely correlated with CAN
| Symbol | Company | Correlation |
|---|---|---|
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.59 |
| MSTZ | T-Rex 2X Inverse MSTR Daily Target ETF | -0.57 |
| SMST | Tidal Trust II Defiance Daily Target 2x Short MSTR ETF | -0.57 |
| BTCZ | T-Rex 2X Inverse Bitcoin Daily Target ETF | -0.56 |
| CONI | GraniteShares ETF Trust GraniteShares 2x Short COIN Daily ETF | -0.56 |
Frequently asked questions about CAN correlations
- Which stocks are most correlated with CAN?
- Based on one year of daily returns, the stocks most correlated with Canaan Inc. American Depositary Shares (CAN) are SATO (0.68), OWNB (0.67) and STCE (0.66). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with CAN?
- Over the past year, the stocks most inversely correlated with Canaan Inc. American Depositary Shares (CAN) are SARK (-0.59), MSTZ (-0.57) and SMST (-0.57). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these CAN correlations calculated?
- We compute the correlation of daily returns between CAN and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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